Australia's Visy seeks govt help for AUD 300m waste-to-energy project - report

Nov 23, 2011 - Visy, the Australian paper, packaging and recycling group owned by the Pratt family, is seeking government assistance for an AUD-300-million (USD 296m/EUR 219m) waste-to-energy project, The Australian newspaper reported on Wednesday.

As part of the project, the company plans to build an AUD-200-million, 75-MW waste-to-energy plant that would be the first of its kind in Australia, the newspaper said. Visy also intends to invest AUD 100 million in the construction of several pellet facilities that would turn garbage into fuel for the power-from-waste plant.

The group is seeking AUD 100 million from the newly established Australian Renewable Energy Agency for the project.

Executive chairman Anthony Pratt told The Australian that a grant from the Australian government would accelerate the company's ability to realise the project by "a number of years". He said that with government funding the project could start immediately.

The waste-to-energy plant will probably be located next to Visy's Tumut pulp and paper mill in New South Wales, The Australian said.

(AUD 1.0 = USD 0.986/EUR 0.730)

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